VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/30/13 -- Orestone Mining Corp. (TSX VENTURE: ORS) in preparation for the upcoming field season at the Captain project the Company has made application for an additional 20 diamond drill holes and 44.9 kilometers of IP geophysics to increase coverage over the large outlined magnetic high anomalies. Recent drilling has shown a direct correlation between magnetic dike swarms and disseminated porphyry gold mineralization.
Recent diamond drill hole C12-05, intersected long intervals of 0.30-0.65 g/t gold and 0.06-0.07% copper over 119-165m, including 9m of 6.5 g/t gold and 0.27% copper as well as 6m of 4.4 g/t gold and 0.51% copper (News Release Jan 14, 2013). When plotted on the detailed magnetic map, C12-05 and drill hole C11-01 lie on the southern fringe of a large circular magnetic high known as the Admiral target. The Admiral target measures 1000m x 1500m and is similar in size and intensity to the magnetic high associated with the "MBX" and "66" ore bodies at the Mount Milligan Mine located 30 kilometers to the north. This is the highest priority drill target on the Captain project and will be drilled at the start of the 2013 summer field season.
Recent logging of timber in the Admiral target area has created a network of roads which will permit easy drill rig access. The Company currently has all permits in place to facilitate the next several phases of exploration; 30 line kilometers of geophysics and 38 sites approved for drilling by the B.C. Ministry of Energy and Mines.
The 100% owned Captain Project hosts a large gold-copper porphyry system measuring 7 by 14 kilometers located 41 kilometers north of Fort St. James, British Columbia and approximately 30 kilometers south of the Mt. Milligan gold-copper deposit. The Captain Project features relatively flat terrain, moderate tree cover and an extensive network of logging and Forest Service roads suitable for exploration year around. The Company has or is applying for all permits to facilitate the next several phases of exploration. For additional information including maps referenced visit www.orestone.ca.
ON BEHALF OF ORESTONE MINING CORP.
David Hottman, President and CEO
This news release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.
Orestone Mining Corp.
President & CEO
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